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Cable Update (GBPUSD)

  • #314,301
  • May 22, 2012 6:54pm May 22, 2012 6:54pm
Quoting iskandarler
agreed... seems its already started
Could be a small pull-back to 5763 seems like it on the smaller TF's anyway. We will find out shortly!
  • #314,302
  • May 22, 2012 7:04pm May 22, 2012 7:04pm
Quoting Pedini89
Could be a small pull-back to 5763 seems like it on the smaller TF's anyway. We will find out shortly!
i guess its going up at least 100pip coz on my D1, its already oversold.. finger X.. and my RSI already reach 30 twice
  • #314,303
  • May 22, 2012 7:12pm May 22, 2012 7:12pm
Quoting Snarkalarker
SL?

Undecided as of now.

In the meantime I will just watch the PA and see how it plays out. I am long past the point where any hesitation is at play when getting out of a bad trade.

1.5811 is my basis.

The numbers were not that bad and the 1.5800 area seems fairly strong. So if starts fading below that in a meaningful fashion I'll cut the cord.
By the way in case anybody is wondering I got stopped out of this trade.

Oh well. Cant win em all.
  • #314,304
  • May 22, 2012 7:49pm May 22, 2012 7:49pm
do you guys see it moving up?
  • #314,305
  • May 22, 2012 7:55pm May 22, 2012 7:55pm
Of course it will go up.

Now that I took a loss on my long this sucker will probably start skyrocketing at any time now.

  • #314,306
  • May 22, 2012 8:00pm May 22, 2012 8:00pm
Quoting bguguen
Funny though... havent posted in GU/EU thread or with tsar.... perhaps time to check my records to see whens the last time i posted there??
good luck to you all and greenpips... forexfactory's becoming a joke always waking up to people posting...

"OMG OMG GOOD UK news and GBPUSD tanked... wtf is happening"

PS. Aussie dude, hey you and i are on the same boat shorting the Cable...
oh yea im egotistical and dont you guys around here pretend you are any different... traders are generally really egotistical.... atleast i aint some pretentious...
bguguen I support you bro. Some of ur calls have been really fantastic on the gbp/usd and I apologize for making fun of you yesterday.
  • #314,307
  • May 22, 2012 8:02pm May 22, 2012 8:02pm
Quoting Snarkalarker
Of course it will go up.

Now that I took a loss on my long this sucker will probably start skyrocketing at any time now.

used to happen with me few months back. not now. just trade the trend.
  • #314,308
  • May 22, 2012 8:04pm May 22, 2012 8:04pm
BoJ left the rates unchanged and the statement was neutral/optimistic, dollar started to lose vs JPY and as a result we see GBPUSD growing. Though technically that might serve as a beginning of bullishness.
I am long from 157400, so hope to see Cable back 158200-400

just an opinion
good luck
  • #314,309
  • May 22, 2012 8:10pm May 22, 2012 8:10pm
Quoting Nachiket
used to happen with me few months back. not now. just trade the trend.
Well, I did make some money on this pair Monday.

Made 3 trades and they were all winners. Got in a touch above 1.58 and got out around 1.5825 on all three.

For more than 1 reason I liked the 1.58 are as support. I did not think the news event was all that bad so I entered another long around 1.5811. Even though I got out of the trade a am still mildy bullish on this pair so it pained me to let go of it.

For now will wait for the 4:30 (EST) news release and reevaluate.
  • #314,310
  • May 22, 2012 8:20pm May 22, 2012 8:20pm
Quoting Pedini89
Could be a small pull-back to 5763 seems like it on the smaller TF's anyway. We will find out shortly!
Got in for a scalp. Very unlike me, so far so good!
  • #314,311
  • May 22, 2012 8:33pm May 22, 2012 8:33pm
IMO... if it past 5800.. 90% its a bull ... but still need to wait for UK retail sale... c'mon gbp/usd... why so stubborn...
  • #314,312
  • May 22, 2012 9:24pm May 22, 2012 9:24pm
Quoting iskandarler
IMO... if it past 5800.. 90% its a bull ... but still need to wait for UK retail sale... c'mon gbp/usd... why so stubborn...

can you justify ur bullishness. Today's PA tells me its going to have a hard fall.
  • #314,313
  • May 22, 2012 9:36pm May 22, 2012 9:36pm
Quoting Nachiket
can you justify ur bullishness. Today's PA tells me its going to have a hard fall.
I realize this question was not directed at me but I have been reading from sources that over the course of time are pretty much spot on in most cases.

Money is leaving the EUR and for now it appears the sterling is on the receiving end of that.

I will not base a trade or even suggest to others that that should be a basis for entering a trade. Interesting food for thought though.
  • #314,314
  • May 22, 2012 9:55pm May 22, 2012 9:55pm
Quoting Nachiket
can you justify ur bullishness. Today's PA tells me its going to have a hard fall.
I'm newbie, could you tell me how you measure PA to justify deep diving for cable.

TQ
deep RoT is essential for everlasting happyness
  • #314,315
  • May 22, 2012 10:12pm May 22, 2012 10:12pm
Quoting iskandarler
IMO... if it past 5800.. 90% its a bull ... but still need to wait for UK retail sale... c'mon gbp/usd... why so stubborn...
its hard to explain.. this is my method of trading gbpusd... im using D1 time frame...my D1 chart shows some overbought... UK news mix up... they need to come up with some good news... usd like already on ceiling high... peace:nerd:

and gold looks like going up... but for me we need to wait for the UK retail
  • #314,316
  • May 22, 2012 10:23pm May 22, 2012 10:23pm
Hi egg wish me luck I have a large order,I am a fan j16 but more candles


Quoting eggs
This was the pic I was trying to upload Bones.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd h1 18-5trade 4.gif Size: 15 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,317
  • May 22, 2012 10:25pm May 22, 2012 10:25pm
Hello hello !

Quoting Helloguys
nothing.
just want to say hello.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,318
  • May 22, 2012 10:28pm May 22, 2012 10:28pm
right ,cheers


Quoting Pedini89
Hey guys, hope everybody has been trading this pair well!

Just wanted to post my view as it is. Bear trap. Everybody is looking for a break of ~ 5735 to be completely bearish on this pair, BUT, a break of this level will move price into a nice daily demand zone at 57120 where some real bulls may be waiting. This may be a very nice set-up for a lot of supply & demand traders, including the big boys.

Just thought it was something you could all keep an eye on!

Good luck!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,319
  • May 22, 2012 10:31pm May 22, 2012 10:31pm
I hope gold is not up

Quoting iskandarler
its hard to explain.. this is my method of trading gbpusd... im using D1 time frame...my D1 chart shows some overbought... UK news mix up... they need to come up with some good news... usd like already on ceiling high... peace:nerd:

and gold looks like going up... but for me we need to wait for the UK retail
Attached Image (click to enlarge)
Click to Enlarge Name: gold w1 22-5-12 2 no.gif Size: 16 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,320
  • May 22, 2012 10:33pm May 22, 2012 10:33pm
pullback only
Attached Image (click to enlarge)
Click to Enlarge Name: gold w1 22-5-12 2 no 2.gif Size: 16 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
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